Closing a Medical Practice inColorado
Estimated timeline: 60-90 days. This guide covers the key regulatory requirements for closing a medical practice in Colorado.
Key Requirements for Colorado
Patient Notification Requirements
Colorado requires at least 30 days written notice to active patients. The Colorado Medical Board recommends published newspaper notice as well.
Required Notification Methods
Medical Records Retention
Colorado requires retention of medical records for at least 7 years from the date of last treatment. Minor records must be retained until age 18 plus 7 years.
Colorado Medical Board
The Colorado Medical Board, under the Department of Regulatory Agencies (DORA), must be notified of the practice closure.
DEA Requirements
Surrender DEA registration. Colorado has its own controlled substance requirements through the Colorado Department of Public Health and Environment.
Entity Dissolution
File Articles of Dissolution with the Colorado Secretary of State. File final tax returns with the Department of Revenue.
Estimated Timeline: 60-90 days
This timeline is an estimate based on Colorado's regulatory requirements. Your actual timeline may vary based on practice size, number of insurance panels, outstanding AR, and whether bankruptcy proceedings are involved. Brad can provide a precise estimate for your specific situation.
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